Binance News: Bitcoin Market Dynamics and BNB Price Outlook

Is Binance Losing Its Grip? Bitcoin Flows Reveal Key Market Shifts

After experiencing a bearish trend earlier in the week, Bitcoin (BTC) regained upward momentum, starting the day with a 2.1% rise and currently trading above the $84,000 mark. Despite this, Bitcoin remains subject to fluctuating market conditions. An interesting trend has emerged in exchange flows signaling investor behavior, according to a recent analysis by CryptoQuant’s Joao Wedson.

BNB Price Faces More Downside—Can Bulls Step In?

BNB price is recovering from the $588 support zone but is struggling to stay above the $600 support. The price is currently trading below $610 and the 100-hourly simple moving average, forming a short-term declining channel with resistance at $610. A fresh increase was observed after forming a base above $588, but the price corrected gains after reaching a high of $618. The pair must stay above $600 to start another increase in the NEAR term.